Electric vehicle batteries market and electric vehicle charging stations market [2021]

Electric vehicle batteries market and electric vehicle charging stations market [2021] | Market Size, Share, Forecast and Trend Analysis Report with Impact of COVID-19 by Fortune Business Insights ™

Pune, India, November 09, 2021 (GLOBE NEWSWIRE) – Electric Vehicle Battery Market Forecast 2026:

According to the report, Electric Vehicle Battery Market Size is expected to reach a value of $ 82.20 billion by 2026, with a CAGR of 6.6%. The electric vehicle battery industry was valued at USD 71.83 billion in 2018.

The global electric vehicle battery market is expected to flourish with the increasing development of new electric vehicle (EV) battery chemistries around the world. Nowadays, people are prone to lithium-nickel-manganese-cobalt-aluminum oxide (NMCA) composition because it offers higher energy density and longer life cycle.

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Cover of the report

Details

Forecast period

2021-2028

Forecast period 2021-2028 CAGR

28.1%

2028 value projection

$ 154.90 billion

Year of reference

2020

Market size in 2021

$ 27.30 billion

Historical data for

2017-2019

Number of pages

200

Covered segments

Battery type, Vehicle type

Growth drivers

Decrease in the price of lithium-ion batteries to drive market growth

Strict emissions regulations for adopting fuel for electric vehicles

Increase climate change awareness programs to stimulate demand

Electric vehicles have multiple advantages in terms of emissions over traditional internal combustion engine vehicles. The first is able to use and develop renewable energy resources. They also do not emit harmful gases into the atmosphere. Apart from this, the growing number of rapid climate change awareness programs are forcing regulators to roll out strict fuel economy standards and regulations.

On the basis of vehicle type, the battery electric vehicle (BEV) segment is expected to hold the largest electric vehicle battery market share in 2019. This growth is driven by increasing fuel economy regulations and quota systems implemented by government agencies in emerging economies.

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Growing availability of electric vehicle batteries to position Asia-Pacific at the forefront

In 2019, Asia-Pacific achieved $ 35.39 billion in revenue. The region is expected to dominate the market over the next few years due to major contributions from South Korea, Japan and China. These countries are considered to be the main manufacturing centers for electric vehicle batteries. In North America, original equipment manufacturers (OEMs) are primarily focused on removing concerns about sourcing batteries from a single region. This factor would help the region to develop in the near future.

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March 2020: BYD officially launched its latest blade-shaped battery to eliminate growing concerns about battery safety in electric vehicles. The company unveiled the new product at an online event titled “Blade Battery – Unsheathed to Safeguard the World”.

February 2020: Lucid Motors partners with LG Chem, a renowned supplier of electric vehicle batteries for its Lucid Air all-electric sedan. Full production of the latter sedan is expected to begin in late 2020 at the company’s modernized factory in Casa Grande.

  • Panasonic Corporation (Osaka, Japan)

  • LG Chem (Seoul, South Korea)

  • BYD Company Ltd. (Shenzhen, China)

  • GS Yuasa International Ltd. (Kyoto, Japan)

  • Samsung SDI CO., LTD (Seoul, South Korea)

  • Hitachi Chemical Co., Ltd. (Tokyo, Japan)

  • Contemporary Amperex Technology Co., Limited (CATL) (Ningde, China)

  • EXIDE INDUSTRIES LIMITED (Kolkata, India)

  • SK INNOVATION CO. LTD. (Seoul, South Korea)

Part 2: Electric Vehicle Charging Stations Market Forecast 2028:

The GlobalElectric vehicle charging stations market“The size is expected to grow to reach $ 111.90 billion by 2028 from $ 17.59 billion in 2021 while posting a stellar CAGR of 30.26% between 2021 and 2028. In its report titled” Market EV charging stations, 2021-2028, “Fortune Business Insights mentions that the market was worth $ 24.16 billion in 2020.

In recent times, the demand for electric vehicles is increasing rapidly around the world. However, China and the United States hold the largest market share for the same. As the demand for electric vehicles increases, the electronic charging industry is also booming. Governments around the world are helping set up charging stations. For example, the Chinese government has approved the development of fast charging stations by national policies. Likewise, in the United States, the government is offering all its support and funds to develop EV charging stations. Such active support from government agencies is likely to fuel the level 3 charging station market during the forecast period.

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Impact of COVID-19

The COVID-19 pandemic has had an impact on the global economy, and the EV charging station market has also been impacted. Due to the spread of the virus, governments around the world have announced closures. This impacted most industries and forced people to stay at home, reducing frequent travel and meeting with others.

In addition, many companies have offered work from home to their employees in order to ensure the continuity of the company’s activities during the COVID-19 pandemic, which is expected to hamper the market for electric vehicle charging stations over the course of the period. of the forecast period. It has been reported that remote working practices are expected to hamper the growth of the automotive industry.

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Scope and segmentation of the report

Cover of the report

Details

Forecast period

2021 to 2028

Forecast period 2021 to 2028 CAGR

30.26%

2028 value projection

$ 1,119.90 billion

Year of reference

2020

Market size in 2020

$ 24.16 billion

Historical data for

2017 to 2019

Number of pages

200

Covered segments

Charger type, by application

Growth drivers

Automotive electrification is an important trend

Government funding for the development of charging stations to stimulate demand

Increased purchases of electric vehicles to propel market growth

Market segmentation :

By type of charger, the market for electric vehicle charging stations is divided into fast and slow / moderate. By application, it is divided into commercial and residential. Finally, in terms of geography, the market is divided between North America, Europe, Asia-Pacific, and the rest of the world.

Competitive landscape

Key players will focus on new launches and acquisitions to strengthen market growth

This market is consolidated by large companies that strive to maintain their position by focusing on new launches, collaborations and partnerships and acquisitions. Such strategies adopted by key players should strengthen its market prospects. Below is the development of the industry.

  • July 2021: DC fast charging stations, which is a network of The Tesla Supercharger, are expanding their charging functions for other types of electric vehicles.

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List of key players presented in the report

  • Charge Point Inc. (United States)

  • Schneider Electric (Rueil-Malmaison, France)

  • Tesla Inc. (Palo Alto, California, United States)

  • BP Chargemaster (Luton. United Kingdom)

  • Shell International BV (The Hague, The Netherlands)

  • Webasto Group (Stockdorf, Germany)

  • Siemens AG (Munich, Germany)

  • EVBox (Amsterdam)

  • Eaton (Dublin, Ireland)

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